South Florida luxury oceanfront land next to Larry Ellison’s home hits market for $75M

Exclusive: A prime stretch of the Manalapan Coast that was previously listed as a $285 million mega-mansion is back on the market — this time with a price tag of $75 million — and it happens to be located next to billionaire Larry Ellison’s sprawling estate in South Florida.

The property at 1960 South Ocean Blvd., owned by developer and former Manalapan Mayor Stuart Sutter, is being re-offered as a land offering with an option to purchase plans for a 55,000-square-foot “trophy property” that will include a bowling alley, an automobile museum and a private spa. The move reflects a broader shift in Florida’s ultra-luxury market, as discerning buyers increasingly seek custom-built properties amid the billionaire exodus reshaping the state’s coast.

“Over the past year… we’ve had a number of people ask us if we would be willing to sell the land. So obviously they wanted to customize the product and build something to their unique specifications. We were happy to make that available, so we decided to offer the land as well as the finished home,” Sater told Fox News Digital.

“Manalapan has become a hot button in luxury real estate. It’s limited inventory, very large lots, as well as thematic properties,” Nick Malinowski, founder of Douglas Elliman Exclusive Group, who represents Sater, told Fox News Digital.

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“So, for example, this property is four acres, inland from coast to ocean, and 350 feet [of water frontage] “So the location checks box number one. And number two, it’s really real estate,” he added.

When they went on the market Friday, Sater and Malinowski noted that the decision to include a land-only option came from reviewed feedback that potential buyers were more interested in the location and their design plans versus a pre-designed product.

There were reportedly five “really good prospects” who were interested in purchasing the $285 million home, but eventually more inquiries came in for the land itself.

“We all got together and decided, ‘Maybe we’ll offer the land to a buyer.'” “And what we found was that many of those buyers wanted to allocate more than we already did with this property,” Malinowski said. “So we’re really listening to buyer feedback and the brokerage community.”

“We support development here in Manalapan,” Satter said. “Although we have strict standards, we encourage people to work closely with others to develop the home of their dreams.”

Despite regularly flexing its rich muscles, Manalapan is home to only about 400 residents, one of whom is Ellison. Ellison’s residence is located right next to Sutter’s land, meaning a potential buyer could become the billionaire’s new neighbor.

“I think South Florida continues to attract people. I don’t see it stopping,” Sutter said.

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Satter also noted, “High-net-worth buyers are falling in love with the city and definitely want to build their homes here. Let’s say the complex will be a trophy property for them, something they can enjoy with others.” “Given that Mr. Ellison and other successful entrepreneurs are here, and billionaires are here, you find people referring to Manalapan as a place to live, and it’s attracting more people considering who lives here now. And so I think, certainly, demand is outpacing supply here on the ocean front.”

“Obviously the name carries a lot of weight, but you know, I think in these luxury markets, it seems like the wealthy buyers are all kind of choosing the same markets,” Malinowski said. “It’s for reasons like security…that feeling of security, that’s the top priority for all my clients. They want to know if they’re going to be in a safe luxury market.”

Address: 1960 South Ocean Blvd. It stands out from the surrounding properties because it is the largest available oceanfront land area in the city with rare double-water exposure. It is also divisible and can become two pieces, Sater said.

The original $285 million home — if the buyer decides to stick with the plans — still represents one of the most expensive new construction purchases in America, and is equipped with a shooting range, bowling alley, car museum, golf simulator room, tennis court, spa, gym and more.

“…I go out there regularly just to walk around the property, and it’s breathtaking…so, yeah, I’ll miss it, maybe when it’s gone.”

– Stuart Sater

“The high-end market continues to do very well,” Malinowski said. “We are seeing one record after another.” “So I think if the property is special and unique, it will do very well in our South Florida market.”

Both emphasized Manalapan’s location and charm – its turquoise waters and natural beauty – as being more likely to appeal to a buyer than the Grand Palace itself or its more prominent neighbors.

“We work with a lot of everyday people who have done very well in the business who are showing up and buying these properties. Maybe they’re in manufacturing, maybe they’re in the sneaker business that no one knows about, maybe they’re in the trucking business,” Malinowski explained. “Most of the people we encounter are not celebrities or well-known tech entrepreneurs, we see them all. Wealth comes from everywhere.”

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“It’s definitely a business-friendly environment,” Satter said. “The local government has done very well. The freedom, the accessibility, the quiet… all the tax advantages of living here… it really is a very, very special place.”

The decision to list his property was a bittersweet one: “I’m in no rush to sell, but I mean I buy these properties for sale, and I enjoy the process, but I’ve often thought about building something for myself there… We’ll see what happens, and I’ll miss it, because I go there regularly just to walk around the property, which is amazing… So, yeah, I’ll miss it, maybe when it’s gone.”

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